Q3 network revenue grew 24% to $349M, led by Solana and BNB Chain gains, though Ethereum declined and Robinhood Chain's $51M debut is expected to normalize after fee adjustments.
Tech & Launches ·
Network revenue across major blockchain platforms grew approximately 24% in Q3 to around $349 million, according to quarterly data. The increase was propelled by gains on Solana and BNB Chain, while Ethereum's contribution declined during the period. Robinhood Chain's entry into the metrics coincided with $51 million in revenue in its debut quarter.
Robinhood Chain's strong initial performance, however, is not expected to persist. The elevated revenue figures are tied to the current fee structure, and adjustments to those fees are anticipated to moderate the chain's contribution going forward.
The divergence in performance across chains—with some platforms accelerating while others slowed—underscores the shifting dynamics in decentralized finance activity. The trajectory of Robinhood Chain's normalized revenue remains to be seen once fee parameters are revised.